Normally Indian Media and TV media in particular is very
sensitive to issues of Crimes. There are several programs
dedicated to sensationalizing the crimes. In certain cases the
media intervention has ensured that Courts have taken note of
incidents which would have otherwise been buried under by
influential persons. Many of the recent scams in India have been
unearthed because of the persistent support of the media. Even
Anna Hazare movement vows part of its success to media support.

However some times commercial interests are
strong and media hesitates to take on any corporate India which
has the power of doling out "Advertising benefits" .

One example in recent times is the lack of
interest shown by the media on increasing number of Bank Frauds
in India particularly attributable to the glaring negligence of
the banks.

Today morning, I received the following
e-mail from a customer of Punjab National Bank.

Quote:
" My name is V..... M..... and I am a school teacher at
S.... School in Thane. Two years bach rupees 10 lakhs were
stolen from our internet account. You can imagine what a
shock it was. So much that my husband had a heart attack and
underwent a bypass a month after the theft.
The robbers made 51 transactions in 4 days and transferred
the entire amount to seventeen different accounts.
Two years have passed and neither the bank or the police
have done anything.We have filed a case against the bank at
the Consumer Forum.
Please help. We are in dire need of this money, which was
our hard earned money."Unquote:

I want the society to ponder over this mail in all the
seriousness it deserves.

This is not the first case in which I have
heard that the victim of an E Banking fraud had suffered health
issues after the incident. Luckily only those who have survived
the shock and living to tell their story have got in touch with
me and explained their vows. Behind these survivors are many who
have perhaps not been able to survive the shock. After all
Indians use Banks to park their life time savings and when it
suddenly vanishes, if the victim is a senor citizen who has
retired from active employment, the future becomes so dark that
it is difficult to survive.

The Blood of all these persons who could not
survive the shock is in the hands of RBI in particular which has
been content only in sermonizing but not able to bring rogue
Banks to book.

Out of the persons who survive only those who
are still earning and can absorb the shock and then continue a
fight incurring more costs are only a few. In these examples lie
the truth of who are all responsible for this bloodbath in
India.

I will try to document here how different
persons have contributed to the increasing incidences of E
Banking frauds in India and why I consider that the traditional
media has failed in its duty to highlight the problem. I would
be happy if the media barons challenge me that I am unfair to
them.

The persons/authorities who are responsible
for the blood bath are

1. Chairpersons of Banks
2.CISO s of Banks
3. Governor of RBI and the Ombudsmen in various places and
officials of RBI at other levels
4. Chaiperson IBA
5. Persons in charge of law enforcement
6. Software developers who supply Core Banking software to
Banks including Infosys, I Flex etc
7. Department of IT responsible for the administration of
CAT
8. Media which has failed to bring a national focus on the
problem

I will explain why I consider the above
officials are responsible for the mess that Indian E Banking
system is presently in.